Andrey Sizov
05.12.2025
On Thursday U.S. grain futures rose. March SRW wheat closed at $5.40/bu ($198/mt), up 0.4% from Wednesday. March HRW wheat increased to $5.34/bu ($196/mt), up 0.9%. March Euronext wheat settled at €189.75/mt ($221/mt), down 0.8%. March U.S. corn rose to $4.47/bu ($176/mt), up 0.9%.
StatsCan estimated Canada’s 2025 wheat production at a record 40.0 mmt, compared with 35.9 mmt a year earlier and a market consensus of 38.5 mmt. In its November update, USDA pegged the Canadian wheat crop at 37.0 mmt.
As of Dec. 3, Argentina’s wheat harvest was 45% complete, compared with 48% a year earlier, according to the Buenos Aires Grain Exchange (BAGE).
Corn planting in Argentina was 44% complete as of Dec. 3 versus 48% a year earlier, BAGE said. All corn fields were rated in normal to excellent condition, compared with 98% a year ago.
As of Dec. 1, soft wheat had been sown on 99% of planned area in France, compared with a five-year average of 96%, according to FranceAgriMer. The share of fields rated good or excellent slipped by 1 percentage point week on week to 96%, up from 86% a year earlier.
USDA reported private exporters sold 101,000 mt of corn to Colombia and 393,000 mt of corn to Mexico.
Since mid-November, export prices for Russian 12.5% protein wheat have fallen by $4/mt to $228–230/mt FOB, according to SovEcon’s price monitoring. Quotes have dropped to their lowest level since mid-September amid strong competition from Australian and Argentine wheat.
